Low IP uptake due to misconceptions: Shepherds Friendly

14% of working adults have IP

Cameron Roberts
clock • 2 min read

Provider, Shepherds Friendly, has released research which showed that misconceptions about income protection (IP) are limiting uptake.

The survey, which quizzed 2,000 UK adults, showed that 14% of those working full time have IP. Those aged 25-34 were most likely to have cover at 20%, those aged 55-65 were least likely at 7%. The mutual said that 70% of respondents were aware of IP, meaning awareness is not the main barrier to expansion, according to Shepherds Friendly. Misconceptions about the product itself were evident in the research, 47% of respondents said they believed someone's current or past lifestyle, physical health or mental health would automatically stop them from being accepted for IP. Other miscon...

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